On the Horizon: SEC releases small entity compliance guide

ContentsSEC releases Small Entity Compliance GuideNACD and ISA issue guidance on cyber-risk oversightSEC releases Small Entity Compliance Guide
Small Entity Compliance Guides summarize and explain rules adopted by the SEC, but they are not a substitute for SEC rules. Only an SEC rule provides complete and definitive information regarding its requirements.

The staff of the SEC’s Division of Corporation Finance recently issued a Small Entity Compliance Guide to summarize key provisions of Rule 504 of Regulation D that was included in the Commission’s Final Rule, Exemptions to Facilitate Intrastate and Regional Securities Offerings.

The Final Rule increased the amount of securities that may be offered and sold under Rule 504 of Regulation D from $1 million to $5 million in any 12-month period.

NACD and ISA issue guidance on cyber-risk oversight
The National Association of Corporate Directors (NACD) and the Internet Security Alliance (ISA) released the 2017 edition of the “NACD Director’s Handbook on Cyber-Risk Oversight.” The handbook is developed around five core principles designed to enhance the cyber literacy and oversight capabilities of directors and board members of organizations. The handbook includes updated information on the threat environment, legal developments, and current statistics on board-level cybersecurity oversight practices, along with expanded tools that can be used to improve and enhance boardroom practices.